August Auto Sales: Ashok Leyland and Tata Motors top the list
The shares of Ashok Leyland climbed up more than 4 per cent intraday and closed at Rs. 133.40 per share, up by 3.21 per cent after the company announced its sales figures. The company’s sales increased by 27 per cent to 17,386 units YoY. Meanwhile, Tata Motors closed in red, down by 0.15 per cent at Rs. 266.70, despite reporting good sales numbers.
On the other hand, Maruti Suzuki's sales took a hit as it declined by 3.4 per cent to 1.58 lakh units YoY. Maruti Suzuki hiked prices of for its passenger vehicles by up to Rs. 6,100 last month, while Mahindra and Mahindra increased prices of its passenger vehicles by up to Rs. 30,000 or 2 per cent but, M&M’s sales grew by 14 per cent to 48,324 units YoY. Tata Motor’s domestic sales rose 28 per cent to 58,262 units. Hyundai Motor India faced a drop in sales as the company posted a 2.8 per cent drop in domestic sales at 45,801 units, compared to 47,103 units in the same period a year ago.
In the two-wheeler lot, Hero MotoCorp’s sales remained stable YoY to approximately 6.85 lakh units. TVS’ sales were up marginally by 2 per cent to approximately over 2 lakh units. While Royal Enfield sales were up as well to 68,000 units YoY, an increase of 2 per cent.
Among Commercial Vehicle makers, Escorts’ sales were also up by 4.9 per cent to 4,812 units YoY. Ashok Leyland grew by 27 per cent as mentioned. Tata Motors’ sales also rose by 26 per cent to 39,000 units for August 2018 as against 31,000 units in August 2017.
Domestic passenger vehicle sales portrayed a mixed trend in August with carmakers either reporting a decline in sales or little growth. This may be attributed to negative consumer sentiments due to rising fuel rates and hike in vehicle prices by some companies.
Meanwhile, BSE Auto closed at 24,505 level, down by 0.85 per cent and Nifty Auto was down by 0.67 per cent at 10,935.65 level. BSE Sensex closed at 38,312 level, down by 0.86 per cent and Nifty50 closed at 11,582.35 level, down by 0.84 per cent.